Lee Welborn

Lee Welborn leads Stout’s Capitalization Advisory Services group, bringing more than 30 years of experience advising clients across a broad range of industries. She partners with organizations to design and execute multi-year federal tax strategies that drive long-term value, integrating services such as cost segregation, repairs and maintenance studies, fixed asset analyses, and various tax credits.

Lee works closely with executive teams to align capitalization strategies with broader financial and operational objectives, helping clients unlock significant cash flow, optimize tax positions, coordinate teams internally, and enhance reporting outcomes. Her leadership spans complex portfolios, from newly developed assets to large-scale acquisitions, where she guides teams delivering technically rigorous, audit-ready analyses.

Known for her ability to navigate highly scrutinized industries, Lee has successfully defended her work before the IRS and is a trusted advisor to both internal and external auditors on significant engagements. Her experience spans a diverse set of industries, with depth in hospitality and gaming, sporting/entertainment venues, theme parks, and data centers.

She has led engagements across the United States and internationally, including Ireland, Sweden, China, and Macau, bringing a global perspective to capitalization and tax strategy.

Prior to joining Stout, Lee spent more than 20 years with Ernst & Young LLP, where she most recently served as co-leader of the firm’s national cost segregation practice.